JELD-WEN(US:JELD) Prnewswireยท2024-11-04 21:30Core Viewpoint - JELD-WEN Holding, Inc. reported a significant decline in net revenues and a net loss for the third quarter of 2024, primarily due to weak macroeconomic conditions and a shift in demand towards entry-level products [2][4][5]. Financial Performance - Net revenues from continuing operations for Q3 2024 were $934.7 million, a decrease of 13.2% compared to $1,077.0 million in Q3 2023 [2][4]. - The net loss from continuing operations was $73.0 million, or $0.86 per share, compared to a net income of $16.9 million, or $0.20 per share, in the same quarter last year [5][6]. - Adjusted EBITDA from continuing operations was $81.6 million, down from $105.7 million in Q3 2023, reflecting a decline of $24.1 million [2][7]. Segment Performance - North America segment reported net revenue of $677.9 million, a decline of 14.2%, driven by lower volume/mix due to weaker market demand [7]. - Europe segment net revenue was $256.8 million, a decrease of 10.4%, impacted by a 12% decline in Core Revenue [7]. Cash Flow and Capital Expenditures - Net cash flow provided by operations for the first nine months of 2024 was $78.0 million, a decrease of $195.0 million compared to $273.0 million in the same period last year [8]. - Capital expenditures increased to $118.0 million in the first nine months of 2024, up from $80.4 million in the same period of 2023 [9]. Guidance and Outlook - The company lowered its 2024 revenue guidance to a range of $3.7 to $3.75 billion, reflecting a Core Revenue decline of 13% to 14% compared to 2023 [10]. - Adjusted EBITDA guidance for 2024 was also reduced to a range of $265 to $280 million [10].